New College Institute board approves FY27 budget amid calls for clearer revenue detail

The New College Institute Board of Directors voted June 4 to approve a FY27 base budget prepared on the assumption of a $3.1 million state appropriation and to provisionally use $243,000 in non‑general funds for program expenses.

Finance staff presented a base budget built on the current appropriation with personnel services roughly $2.5 million, building maintenance and utilities about $448,000 and continuing leases at approximately $198,000. The finance presentation listed an available non‑general fund balance of about $813,000 and proposed using $243,000 of non‑general funds for specified expenses (IT, events and marketing/rebranding among them). The presentation noted maintenance reserve rules and that some capital projects require a $25,000 threshold for maintenance reserve use.

Board members pressed for greater breakdowns of the revenue and expense lines, asking for historical, year‑over‑year numbers showing the contribution of new programs such as the testing center and trainings to non‑general revenue growth. Several directors urged more detailed materials for incoming board members, including a trifold and an end‑of‑year infographic that would summarize key performance metrics for easy sharing.

During discussion the executive director and finance staff said they would provide line‑item detail and historical trend charts showing non‑general revenue growth, and that the finance and executive committees would refine planning checkpoints. The board approved the FY27 budget by voice vote and directed staff to return revised materials if the Commonwealth27s final budget differs from the planning assumption.

The vote authorizes the center to operate under the proposed base budget while staff work to produce the additional revenue detail and historical analyses requested by board members.